Far Eastern Group, one of Taiwan's largest conglomerates, is weighing acquisition deals in China, as prices for assets in overcapacity sectors have become "competitive," the company's chairman said on Tuesday.

But Far Eastern Group Chairman Douglas Hsu said his company wasn't necessarily rushing into deals.

Price wasn't the only issue, Hsu told CNBC's "Squawk Box" on the sidelines of the Forbes Global CEO Conference in Hong Kong.

"The big point you have to really have to consider is if you can withstand the excess capacity and for how long will this excess capacity will continue to be there," Hsu added.

While some companies Far Eastern is looking at have to deal with the excess capacity, others need management changes to adapt to a global market, he said, adding that companies broadly need to evolve as technology advances, he said.

With over 200 companies under its fold, Far Eastern Group's total assets are valued at $75.8 billion and run the gamut from cement and textiles to retail.